Pensacola Development Opportunity For
For Sale
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403 Airport Blvd, Pensacola, FL 32503
Prime development opportunity in Pensacola, Florida, for a lucrative venture.
Property Size62,000 SF
Price / SF$61.29
Days on Market179
Property Features for 403 Airport Blvd
General Information
Standard status
Active
Size
62,000 SF
Class
A
Total Parking Spaces
108
Property subtype
Hospitality, Retail
Zoning
COM
Investment Type
Owner/User
Building Details
Units
107
Listing Agency:
Alliance Real Estate
(850) 516-9967
Listed By:
Daniel Hua · License #FL SL3527144
Source:
Crexi
Added: Mar 3
Changed: Aug 21
Last Checked: Aug 28 at 11:13PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Alliance Real Estate
Investment Insights
Based on property information with market context.
This property presents a development opportunity in Pensacola, Florida. The property is strategically located and is an ideal joint venture prospect for investors. This new hotel development property at 403 Airport Blvd. offers possibilities for creative development or joint partnership ventures. It is situated in a sought-after area of Northwest Florida. The Proposed Cambria Hotel at 403 Airport Blvd. is the backdrop for your next investment. Developer incentives are available to shape the future landscape of Pensacola. The property size is 62000 square feet.
Key Highlights
- Prime development opportunity in Pensacola, Florida.
- Ideal joint venture prospect for investors.
- Strategic location at 403 Airport Blvd.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$136,554
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.59%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,731,080
$2.7M
Cap Rate 7%
$1,950,771
$2.0M
Cap Rate 9%
$1,517,267
$1.5M
Market Conditions
NOI Build-Up for 62,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$684.5K $11.04/SF
− Vacancy
−$397.0K −$6.40/SF
EGI
$287.5K $4.64/SF
− OpEx
−$150.9K −$2.43/SF
NOI
$136.6K $2.20/SF
Area
Escambia County, FL
Vacancy
58.00%
Lease Rate
$11.04 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,731,080
Cap Rate 7%
$1,950,771
Cap Rate 9%
$1,517,267
Alternative Uses
Best Use
Hotel Hospitality
$1.95M
$1.71M – $2.28M
NOI $136,554 @ 7.0% cap · market cap 3.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$18.20M
$15.92M – $21.23M
NOI $1,273,732 @ 7.0% cap · market cap 33.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
802
Businesses Nearby
Explore this area
Business Placement
Demographics for 32503, FL
33,693
Population
14,419
Households
2.3
Avg Household Size
36
Median Age
41%
College-Educated
94%
High-School Grad
12.6 sq mi
ZIP Area
2,674
Density / Sq Mi
$67,654
Median Household Income
$32,077
Median Earnings
$1,226
Median Rent
$270,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Hotel - Prime development opportunity in Pensacola, Florida, for a lucrative venture.
Where is this hotel located?
The property is located at 403 Airport Blvd Pensacola, FL.
What is the asking price?
The asking price for this property is $3,800,000.
What are key features of this property?
This property features: Prime development opportunity in Pensacola, Florida.; Ideal joint venture prospect for investors.; Strategic location at 403 Airport Blvd.
